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News

Screening landmark reached at Datanomic

Datanomic : 28 April, 2009  (Company News)
PEP Screening and money laundering detection sweeps have reached 280,000 customer records per minute in Europe with Datanomic software
Fit-for-purpose data and compliance screening specialists, Datanomic has announced that its Sanctions & PEP (Politically Exposed Persons) Screening software is being used by companies around the world to screen in excess of 208,000 customer records every minute. As financial scandals and regulatory fines escalate, Datanomic's software is now the trusted platform of choice for screening against global sanctions lists by some of the world's most respected companies. Datanomic's software is so rigorous that Datanomic customers have some of the cleanest customer data in Europe.

Datanomic's Sanctions & PEP Screening software is now so widely used that it is systematically screening 208,000 client records every sixty seconds - more than two billion customer records every month. "The market is demanding much deeper accuracy, analysis and screening of all customer data than first or second generation compliance screening systems can deliver," said Simon Pearson, Director of Compliance Screening at Datanomic. "There have been some major failures by banks, insurance companies, asset managers and other organizations in meeting OFAC, HMT, EU and other Sanctions screening requirements that could have been avoided with more advanced systems such as Datanomic's."

Datanomic is the Sanctions screening platform of choice for 50% of the UK's Top 10 Wealth/Asset Management companies, is used by two of the top ten global Retail Banking giants, by some of the UK's largest Insurance companies, one of the oldest stock broking firms on the London Stock Exchange, one of the world's largest Hedge Funds, one of Europe's leading Merchant Banks and one of the world's largest Investment Banks, to list just a few. Datanomic also powers Sanctions & PEP screening for the world's largest mobile payments/e-money transfer provider. The company's international presence is expanding rapidly, with live implementations throughout the UK, Europe, USA, India, Russia, Tanzania, Afghanistan, Kenya and South Africa, with many more countries scheduled for roll-out later this year.

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